Globe Telecom CEO Ernest Cu: plans expansion in ASEAN region

Globe Telecom President & CEO Ernest Cu said the Philippine mobile operator provider is planning to expand its operations in the ASEAN region.

Myanmar is one of the potential expansion areas for Globe Telecom, a subsidiary of SingTel. Earlier, Bharti Airtel, a joint venture of SingTel in India, has made an attempt to enter the Myanmar telecom market.

“We will look for white space within Asean and Asia on where to leverage the skills we’ve developed overtime and we do think we’ve developed a decent telecom business here in the Philippines. We have a great team and we’re thinking of ways to leverage that further in emerging economies,” Cu said in a video shown at the recent APEC CEO Summit in Beijing, China.

“There’s already a telecom player in Myanmar but there are other areas we could get involved in, like financial services and mobile advertising and these areas have potential,” Cu said.

Globe Telecom president and CEO Ernest Cu

Cu earlier said Globe is likely to offer its mobile-based banking service to Southeast Asian markets once the ASEAN integration is in place. Globe operates GCash, the mobile money service of its subsidiary G-Xchange. It also operates BanKO, a mobile-based, microfinance-focused savings bank, along with Bank of the Philippine Islands and Ayala.

The ASEAN region includes countries such as Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam.

According to a recent APEC CEO Survey, 57 percent of the CEO respondents said that they are either building or expanding facilities in APEC economies in the next 3 to 5 years. 67 percent of executives plan to increase investment in the APEC region over the next 12 months.

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